FxWirePro: South Korean won trades marginally lower as BSI manufacturing index, industrial production data miss expectations
EUR/KRW is currently trading around 1,309 mark. Pair made intraday high at 1,309 and low at 1,305 levels. Intraday bias remains bullish till the time pair holds key support at 1,298 mark. A sustained close above 1,306 wi…
Pair made intraday high at 1,309 and low at 1,305 levels.
Intraday bias remains bullish till the time pair holds key support at 1,298 mark.
A sustained close above 1,306 will take the parity higher towards key resistances around 1,315, 1,327, 1,338, 1,358 and 1,380 marks respectively.
On the other side, a daily close below 1,306 will drag the parity down towards key supports around 1,298, 1,286, 1,277, 1,267, 1,258, 1,246, 1,234 and 1,222 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
Seoul shares open down 0.06 pct.
Korea, South June 2018 service sector output growth increase to 0.2 (previous -0.1).
Korea, South June 2018 industrial output growth decrease to -0.6 (forecast -0.4, previous 1.2).
Korea, South August 2018 BOK manufacturing BSI decrease to 74 (previous 81).
We prefer to take long position on EUR/KRW around 1,307, stop loss at 1,298 and target of 1,315/1,327.
